Dec 17, 2015
When pricing your home with your Realtor, you will find similar properties that are comparable in size and location. These properties may vary in pricing and can be thousands of dollars higher or lower than one another. Having a knowledgeable Realtor with an objective view can help you find where your home fits in this price spectrum. Sellers should always review the comparative market analysis on nearby homes and neighborhoods and pay close attention to the price per square foot in comparison to similar properties. The future buyer will be reviewing this data as well; therefore, it’s always a good idea to be knowledgeable about comparative properties when listing your home.
The price of your home should be reflective of how it compares to others that have sold in the market. High pricing a property is a strategy that can work in an accelerating market, but there is a risk associated. If your home is priced higher than comparable properties and sits on the market – with subject to reductions– it can end up selling for less than market value. The public can establish a negative opinion of your home based on its price and it’s difficult at times to change that.
Finding a full-time Realtor who is honest and wants to work hard to represent you is imperative. Sellers should beware of realtors who may overpromise the selling of your home at a high price just to secure the listing. These Realtors may not be looking out for the seller’s best interest and can cost the client time and money. The Realtor who prepares a thorough comparative market analysis and has a clear understanding of true market value has the best chance of selling your home quicker and more efficiently.
In summary, if you’re thinking about selling your home, look for a full-time Realtor who will best represent you. Try and steer clear of Realtors who will price your home at the highest price, as these agents tend to under deliver, and may eventually begin the reduction process of your home. Pick a realtor who will work hard, is knowledgeable of the market, and that will best represent YOU!
Led by third-generation owner Stafford Manion, Gladys Manion, Inc. is a boutique agency specializing in luxury St. Louis real estate along the central corridor.
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